Upstart Chinese manufacturer Xiaomi, best known for developing the MIUI third-party Android firmware, has announced its latest Android flagship smartphone in the Mi4 Android smartphone, which features flagship specifications and parts for half the cost of other, better-known devices.

The Mi4 features steel, glass and plastic in its bodyshell design and has a 5-inch full HD display with narrow front display bezels. The Mi4 is powered by a 2.5GHz quad-core Snapdragon 801 processor with 3GB of RAM, and will come in 16GB and 64GB variants. The main camera is a Sony-sourced 13 megapixel unit with an f/1.8 aperture lens and 4K video capture support. The front-facing camera is an 8 megapixel unit and also has an aperture of f/1.8. The Mi4 also features a 3,080mAh battery and interchangeable rear covers for slight customization. The Mi4 is also one of the first Xiaomi phones to support worldwide LTE bands, and also includes an IR port and bundles a receiver for controlling home theater equipment.

Local pricing for the Xiaomi Mi4 is set at CN¥1,999 or about $320 for the 16GB version, and CN¥2,499 or about $400 for the 64GB version with no immediate plans for an official European or US release.